Nonprofit · EIN 47-5673329
LIFE CHANGING LABS FOUNDATION
Tax-exempt · ITHACA, NY 14850
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $48,758 | $91,195 | -$42,437 | $1,752 | $0 | $1,752 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $48,757
- Other revenue
- $1
Expenses
- Compensation of officers, directors and key employees
- $45,000
- Salaries, compensation and benefits (total)
- $45,000
- Professional fees and payments to contractors
- $4,745
- Other expenses
- $41,450
Balance sheet and other
- Total assets, start of year
- $44,935
- Total assets, end of year
- $1,752
- Total liabilities, end of year
- $0
- Net assets, end of year
- $1,752
- Cash, savings and investments
- $1,752
- Gross receipts
- $48,758
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SANG WON YOON | SECRETARY | 0.5 | $45,000 |
| JONG WON KIM | CHAIRMAN | 2 | $0 |
| DAVID JOHNSON | BOARD MEMBER | 0.5 | $0 |
| PAM SILVERSTEIN | BOARD MEMBER | 1 | $0 |
| JEAN TURBAN | EXECUTIVE DIRECTOR | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 407 COLLEGE AVE PMB 188, ITHACA, NY 14850-6701
- In care of
- % JONG WON KIM
- Signed the 990-EZ
- JONG WON KIM, CHAIRMAN
- Phone
- (617) 372-6788
- Return prepared by
- SCIARABBA WALKER & CO LLP
Mission
SEE PROGRAM SERVICE ACCOMPLISHMENTS.
Program accomplishments
- LCL SERVES AS ONE OF THE HUBS FOR ENTREPRENEURSHIP, AS WE PROVIDE RESOURCES AND OPPORTUNITIES FOR BUSINESS DEVELOPMENT AND NETWORKING. WE PLAN AND HOST SCHOOL-WIDE, MONTHLY AND ANNUAL ENTREPRENEURSHIP EVENTS. OVER THE SUMMER WE RUN AN INCUBATOR PROGRAM TO HELP COMPANIES EXPAND AND BUILD THEIR STARTUPS AND PRODUCTS. IN ADDITION, WE BRING IN INFLUENTIAL GUEST SPEAKERS AND MENTORS TO INSPIRE AND MOTIVATE STUDENT ENTREPRENEURS.
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 47-5673329
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Education (B80)
- Assets (IRS master file)
- $1,752
- Income (IRS master file)
- $48,758
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | – | – | – | IRS |
| 990-EZ | December 2023 | $59,202 | $40,329 | $44,935 | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
| 990-PF | December 2017 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about LIFE CHANGING LABS FOUNDATION
- What is the EIN of LIFE CHANGING LABS FOUNDATION?
- The employer identification number (EIN) of LIFE CHANGING LABS FOUNDATION is 47-5673329.
- Is LIFE CHANGING LABS FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to LIFE CHANGING LABS FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LIFE CHANGING LABS FOUNDATION file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of LIFE CHANGING LABS FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LIFE CHANGING LABS FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who are the officers and directors of LIFE CHANGING LABS FOUNDATION?
- The 990-EZ for the year ended December 31, 2024 lists 5 people; 1 received compensation from the organization, the highest $45,000 (SANG WON YOON, SECRETARY).
- How much revenue does LIFE CHANGING LABS FOUNDATION have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $48,758, expenses of $91,195 and total assets of $1,752 at year end.
Other nonprofits in ITHACA
- CORNELL UNIVERSITY EIN 15-0532082 · last filed 990 for 2025
- ITHACA COLLEGE EIN 15-0532204 · last filed 990 for 2025
- CORNELL UNIVERSITY FOUNDATION EIN 22-2848738 · last filed 990 for 2025
- TOMPKINS COMMUNITY ACTION INC EIN 16-0910547 · last filed 990 for 2025
- STEVEN K AND WINIFRED A GRINSPOON HILLEL CENTER FOR JEWISH COMMUNITY EIN 87-3956853 · last filed 990 for 2025
- CORNELL SC JOHNSON COLLEGE OF BUSINESS ENDOWMENT TRUST EIN 83-2461822 · last filed 990 for 2025
- ALPHA LIGHT FUND INCORPORATED EIN 82-2440761 · last filed 990 for 2024
- ELIZABETH ANN CLUNE MONTESSORI SCHOOL OF ITHACA EIN 16-1132505 · last filed 990 for 2025